Slide 1: Dometic Q1 2024
_ DOMETIC Q1.2024. & bmiil y My
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Slide 3: Q1 2024 Highlights
QI 2024 HIGHLIGHTS Market development + Macro environment and market conditions remain challenging + Retailer inventories in Service & Aftermarket and Distribution on the way down, however most customers are optimizing inventories * Decline in OEM driven by Marine and RV industry in APAC. RV OEM pro
Slide 4: Q1 2024 Financial Summary
QI 2024 FINANCIAL SUMMARY Net sales of SEK 6,527 m, -10% total growth 7,289 ® * -12% Organic 1 Net Sales © 2% FX EBITA before i.a.c * OZ M&A EBITA before i.a.c. of SEK 769 m, -9% * EBITA margin of 11.8% (11.6%) or 84. Operating cash flow SEK 212 m (294) 7 B 769 Leverage 3.0x (3.2x) EPS of SEK 0.85 (
Slide 5: Net Sales Development
NET SALES DEVELOPMENT LTM MSEK Ql 2024 #6000 4 || Net Sales SEK 6,527 m Total growth -10% 36,000 4 * LV (Land Vehicles) Americas -19% * IWEMEA-4% * IVAPAC-8% 27000 + * Marine -12% * Mobile Cooling Solutions -14% 18,000 4 * Global Ventures -2% Organic growth -12% 9,000 4 * LW Americas -20% mm * WEMEA
Slide 6: Net Sales by Sales Channel
NET SALES BY SALES CHANNEL SEKB 35 * RVOEM 22% Group sales 30 * 49%in 2017 25 20 15 10 5 ’ MlicrvoEm Marine OEM Mevoem 2018 2019 2020 2021 2022 2023 2024 March OEM 2024 UTM March TM HELOEM Ml Service & Aftermarket |] Distribution “> DOMETIC
Slide 7: Service & Aftermarket Net Sales
SERVICE & AFTERMARKET NET SALES -20% -30% Proforma Net sales in constant currency A 2024 YoY organic growth 5 2022 Q2 Q3 Q4 2023 Q2 2024 Ql Ql 10% “19% -22% Retailer destocking after high consumer demand and large purchases in 2021 and Q] 2022 Moving into normal seasonal trend Q]1 2023 was a tougher
Slide 8: EBITA Margin before i.a.c.
EBITA MARGIN BEFORE |.A.C. EBITA before i.a.c last 12 months 12.5% (12.4%) EBITA MSEK margin TM 1.350 16% 15% 1.200 14% 1050 13% 5 12% 900 1% 10% 750 9% 8% 600 7% 6% 450 5% 300 as 3% 150 2% 1% 0 0% Q12022 Q22022 —Q3.2022 —Q42022-—QI2023»—-Q22023.-—-Q32023 42023.» QI 2024 EBITA before i.a.c ~~ EBITA
Slide 9: LV Americas
LV AMERICAS Q1 2024 Net sales SEK 829 m, -19% * Organic growth -20% * Decline in Service & Aftermarket * Relatively low RV volumes on a highly competitive market 1,800 ro * Prioritizing margin before volume 1,600 1400 * EBITA before i.a.c. SEK -96 m (-98) 1,200 . 000 0% * EBITA Margin -11.5% (-9.6%)
Slide 10: LV EMEA
Netsales and EBITA margin beforei.a.c. 2,000 20% 1,500 15% 10% 1,000 5% 500 o~ i) 5% Ql Q2 Q3 Q4 Ql Q2 Q3 Q4 Ql 2022 «2022 2022 2022 2023 2023 2023 2023 2024 Net sales ~~ EBITA margin LV EMEA Q1 2024 Net sales SEK 1,734 m, -4% Organic growth -7% Decline mainly due to lower Service & Aftermarket and
Slide 11: LV APAC
Netsales and EBITA margin beforei.a.c. 400 35% 350 30% eso 25% 280 20% 200 _ 15% 100 10% 50 5% 0 0% Ql Q2 Q3 Q4 Ql Q2 Q3 Q4 Ql 2022 «2022 2022 2022 2023 2023 2023 2023 2024 Netsales — EBITA margin 1 LV APAC QI 2024 Net sales SEK 316 m, -8% * Organic growth -5% * Service & Aftermarket below last year
Slide 12: Marine
Netsales and EBITA margin beforei.a.c. 2,000 30% 1,500 20% 1,000 15% 10% 500 5% 0 0% Ql Q2 Q3 Q4 Ql Q2 Q3 Q4 Ql 2022 «2022 2022 2022 2023 2023 2023 2023 2024 Netsales — EBITA margin MARINE QI 2024 Net sales SEK 1,500 m, -12% * Organic growth -13% * 1H 2023 a tough comparison * Service & Aftermarket
Slide 13: Mobile Cooling Solutions
Netsales and EBITA margin beforei.a.c. 2,500 12% ae 10% 2,000 8% 1,500. 6% 4% 1,000 % 0% 500 2% 0 A% Ql Q2 Q3 Q4 Ql Q2 Q3 Q4 Ql 2022 ©2022 2022 2022 2023 2023 2023 2023 2024 Net sales ~~ EBITA margin MOBILE COOLING SOLUTIONS QI 2024 Net sales SEK 1,473 m, -14% * Organic growth -16% * An improvement
Slide 14: Expanding Active Cooling in the US
MOST TRUSTWORTHY COMPANIES IN AMERICA EXPANDING ACTIVE COOLING IN THE US * Distribution wins with active coolers in more than 600 stores across several large retailers * Igloo ranked as the #8 Consumer Goods brand in Newsweek's Most Trustworthy Companies in America 2024 ranking DOMETIC CFX SERIES IG
Slide 15: Global Ventures
GLOBAL VENTURES Q1 2024 Net sales SEK 674 m, -2% * Organic growth -4% * Subsegment Mobile Power Solutions stable * Subsegment Other Global Verticals: * Stable Hospitality business Netsales and EBITA margin beforei.a.c. 900 18% * Decline in Residential 800 16% ia a Ye EBITA before i.a.c. SEK 96 m (92
Slide 16: Mobile Power Solutions + Climate
MOBILE POWER SOLUTIONS + CLIMATE AC solution made by integration of MPS Showcasing new Climate solutions powered by Dometic Mobile Power solutions at a trade show in US. By integrating Dometic Mobile Power solutions with Dometic Climate solutions, we can offer innovative, robust and energy efficient
Slide 17: Sustainability and Innovation
SUSTAINABILITY AND INNOVATION LTIFR” better than target * Efforts focusing on injury prevention continue throughout the organization Female representation in management rose to 29% + Driven by increased focus on diversity, equity and inclusion initiatives CO, ratio reduced 44%, better than 2024 targ
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Slide 19: EBITA SEK 769 m
• • • SEK 769 m • (11.8%) • • • • • • •
Slide 20: Cash Flow
CASH FLOW Q1 2024 * Operating cash flow SEK 212 m (294) * Solid performance in a seasonally weaker quarter * Income tax paid SEK -170 m (-199) * QI 2024 P&L tax rate 30% due to a country mix with more taxable profits in higher tax jurisdictions and increased non- tax deductible interest costs * Acqu
Slide 21: Operating Cash Flow
OPERATING CASH FLOW SOLID PERFORMANCE IN A SEASONALLY WEAKER QUARTER SEKm 1,417 917 875 812 546 488 Qi Q2 Q3 Q4 Q Q2 Q3 Q4 Q Q2 Q3 Q4 Qi Q2 Q3 Q4 Q Q2 Q3 Q4
Slide 22: Working Capital
WORKING CAPITAL ACCOUNTS PAYABLES DAYS 70 60 53 50 40 30 Ql Q2 Q@3 Q4 QI G2 G3 G4 ai G2 G3 a4 QI 2021 2022 2023 2024 DPOUM INVENTORY DAYS 160 145 140 120 100 80 Ql Q2 Q3 Q4 QI G2 G3 G4 QI G2 Q3 a4 QI 2021 2022 2023 2024 DIOLTM. ACCOUNTS RECEIVABLES DAYS 55 50 45 ad 40 35 30 Ql Q2 @3 Q4 Qi Q2 G3 G4 a
Slide 23: Capex and Research & Development
CAPEX AND RESEARCH & DEVELOPMENT CAPEX 300 8 200 6 Q1 2024 CAPEX “ 14% 272 4 0.9% (1.4%) of net sales 100 199 : 0.9% 5 m 135 1s 109 2 2.0% Last 12 months o 0% al a2 @3 aa al a2 Q3 a4 al 2022 2022 2022 2022 2023 2023 2023 2023 2024 R&D R& 5 Q1 2024 R&D 2.4% 150% 2. : 2.4% (2.1%) of net sales 100 3 +
Slide 24: Net Debt to EBITDA Leverage Ratio
NET DEBT TO EBITDA LEVERAGE RATIO 3.2 28 27 3.0 23 Qi Q2 Q3 Q4 Qi Q2 Q3 Q4 Qi Q2 Q3 Q4 Qi Q2 Q3 4 Qi 2019 2020 2021 2022 2023 Q4 2023 to Q] 2024 development a | | 0.0 0.1 0.2 27 2023 Q4 EBITDA Cash flow FX 3.0 2024Q)1 Q2 Q3 Q4 Qi 2024 Net debt leverage ratio 3.0x (3.2x) and compared to 2.7x in Q4 20
Slide 25: Debt Maturity Profile - March
DEBT MATURITY PROFILE - MARCH 31 SEKB + Repaid SEK 1,000 m of an EKN-backed loan maturing in 2025 + Refinanced the second part of the credit facilities agreement with 1.0 the bank group: * The term loan of USD 333 m previously maturing in 2025, was extended 1.0 until 2027 with option to extend 1+1 y
Slide 26: Q1 2024 Summary
QI 2024 SUMMARY Business highlights + First quarter result was further evidence of our transition to a more effective, better balanced and thereby more resilient company + Remains difficult to predict how macroeconomic situation will impact the business in the short-term. Our planning assumptions fr
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Slide 28: Disclaimer
‘DISCLAIMER : : SOME STATEMENTS HEREIN ARE FORWARD-LOOKING AND THE ACTUAL OUTCOME COULD BE MATERIALLY DIFFERENT. IN ADDITION TO THE FACTORS EXPLICITLY COMMENTED UPON, THE ACTUAL f OUTCOME COULD BE MATERIALLY AFFECTED BY OTHER FACTORS, (A) CHANGES IN ECONOMIC, MARKET AND COMPETITIVE CONDITIONS, (B) S
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